PACCAR (NASDAQ:PCAR) Given New $140.00 Price Target at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its target price boosted by JPMorgan Chase & Co. from $135.00 to $140.00 in a research report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group raised PACCAR from a neutral rating to a buy rating and raised their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial began coverage on PACCAR in a research note on Thursday, March 14th. They issued a hold rating and a $117.00 price objective for the company. TD Cowen raised their price objective on PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a research note on Wednesday, January 24th. The Goldman Sachs Group raised their price objective on PACCAR from $93.00 to $106.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Finally, Evercore ISI raised their price objective on PACCAR from $94.00 to $101.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $110.82.

PACCAR Stock Down 1.9 %

Shares of PACCAR stock opened at $113.76 on Monday. The stock’s 50-day moving average is $115.86 and its 200 day moving average is $100.66. PACCAR has a one year low of $68.40 and a one year high of $125.50. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that PACCAR will post 8.16 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

Several hedge funds have recently made changes to their positions in the company. Prudential PLC purchased a new position in shares of PACCAR in the first quarter valued at $763,000. Vanguard Group Inc. grew its position in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after purchasing an additional 698,784 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of PACCAR by 66.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after purchasing an additional 27,300 shares in the last quarter. Covestor Ltd grew its position in shares of PACCAR by 73.6% in the first quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after purchasing an additional 898 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of PACCAR by 0.7% in the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after purchasing an additional 792 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.